I he average oaity net transaction accounts of a local bank during the most recent reserve computation penoa is $3$1 miltion. I he amount of average daily reserves at the Fed during the reserve maintenance period is $2520 million, and the average daily vault cash corresponding to the maintenance period is $4.4 million. EXAMPLE13-2 Computation of Dally Average Required Reserves Consider ABC Bank's reverve manager, who wants to axsess the bank's minimum cach reserve requirement target. The manager knows the bank's net transaction accounts balance at the clowe of the banking day on each of the 14 days over the period Tiouday, June 30, to Monday, July 13. Consider the realized net transaction account positions of ABC Bank in Table 13-25. The minimam daily evenger reverves that a bank mugt maintain is competed at a pereentage of the daily average net thansaction accounts held by the bank over the two-weck: computation period, where Friday's balances are carried over for Saturday and Sundoy. The minimum daily awerage for ABC Bank to hold agains the daily arenge of $1.350.70 million in net tramedion accounts is calculated as follows (anovents in millions): Daily average net traniaction accousts Reserve pereentage = Daily avenge reserves required a. Under the rules effective in 2020 , what is the average dalty reserve balance roquired to be held by the bank during the maintenance period? b. Is the bank in compliance with the reserve requitements